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2017 (3) TMI 1627 - Tri - Companies LawCorporate Insolvency Resolution process - existence of eligible debt - Held that:- Tribunal cannot be misused to settle and determine the cases of disputed claims. In the instant case, as stated supra, there is no prima facie evidence to show that the petitioner has lent money to the Company with a promise to repay. When the respondent has filed adequate proof that there was no due to the petitioner and on the contrary, she is due to the Company, the Tribunal cannot enter into the disputed questions of fact, which can be resolved through process of recording evidence by a competent Civil Court. In a summary proceedings prescribed under IBC 2016, Tribunal cannot entertain a litigation where basic issues liKe Financial Creditor, default etc are in dispute. We are of the considered view that the petitioner do not come under the definition of "Financial Creditor" and she failed to satisfy the Tribunal about requisite ingredients of section 7 of IBC 2016 to claim any relief. The petitioner miserably failed to make out even a prima facie case to entertain this petition and she has not come to the Tribunal with clean hands as ought to be in accordance with law. Therefore, the petitioner is not entitled for any relief as sought for. It is not a fit case to initiate Insolvency process as prayed for by the petitioner/applicant.
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